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Valuation Advice

Billet Works, Billet Road, London E17


Client

Circle Housing Group

Property

Industrial Site of 7.41 Acres

Project Summary

Strettons provided RICS Red Book valuation report ahead of the proposed acquisition of an undeveloped 7.41 acre site within East London.

The site had full planning permission for a residential-led scheme, comprising a mix of residential and commercial / community units.

We provided a detailed appraisal of the site by giving individual values for the private and affordable tenure residential units plus the commercial/community space in order to assist in advising on the value of the undeveloped site.

The notional Gross Development Value was over £80 Million.

Our expert knowledge of the location including evidence of sites selling with and without planning permission in recent times plus other new schemes being developed in the local area added real value to our advice.

This industrial site of had full planning permission for a residential-led scheme for six main 2-5 storey buildings providing 351 residential units in the form of flats and houses in a mix of private and affordable tenures plus new commercial and community units.

We provided detailed development valuations for the scheme to provide outturn values and rents for both the residential and commercial elements and then carry out a detailed residual valuation of the undeveloped site including appraising the EUV-SH of the affordable housing.

Gary Powis

020 7614 0905
gary.powis@strettons.co.uk